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HALF of all Bitcoin-investing Winklevoss twins predict $400bn market for the currency

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Facebook backer-turned-antagonist Cameron Winklevoss has issued a bright forecast for the future of the Bitcoin cryptocurrency.

Speaking in a Reddit Ask Me Anything session, Winklevoss said that he projects the value of Bitcoins could reach upwards of $40,000 at some point in the not-too-distant future.

"Small bull case scenario for Bitcoin is a $400bn market cap, so $40,000 a coin, but I believe it could be much larger," Winklevoss wrote.

"When this will happen, if it happens, I don't know, but if it happens, it will probably happen much faster than anyone imagines."

One half of the Winklevoss twin brothers-turned-investors-turned-Olympians-turned-investors-again duo, Cameron has emerged as both a major financial backer of Bitcoin and an evangelist for the digital currency.

Earlier this year, Winklevoss claimed to own roughly one per cent of the world's Bitcoins with his brother. The portfolio was estimated at $11m at the time and would be far higher as the price of Bitcoins has soared in recent weeks.

Readers noted that Winklevoss was hardly an unbiased source of speculation on the matter of Bitcoin, concerns which he moved not-so-successfully to dismiss.

"I have put my money where my mouth is," he offered. "I stand to gain as well as lose depending on how the future unfolds."

As Winklevoss ponders the future of the Bitcoin market, others have been speculating on the origin of the cryptocurrency.

The International Business Times cited Butterfly Labs chief operating officer Josh Zerlan in speculating that Bitcoin creator Satoshi Nakamoto was actually an identity created by a group of individuals based in Europe.

Zerlan, whose company specialises in building Bitcoin-mining hardware, reckoned that a number people who work in the finance sector collaborated to create Bitcoins and have hidden behind the identity of Nakamoto while functioning as a group.

The identity of Nakamoto has long been a matter of speculation, with guesses ranging from economics professors to shady financial industry masterminds with ties to other markets and groups. ®

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